Why not another option, Kinesis Money or Rush Gold et. al. Not sure what would happen in a panic but the gold is supposed to be wholly in your name (allocated) and is redeemable in physical. Plus you can get a mastercard I believe to spend it anywhere, i.e. use it as a savings / transaction account.
What it comes down to for me is if I was trading it then etf etc. would be better. But I don't trade gold to make money, there's better things to trade IMO. Wealth conservation, use physical or store it in a vault somewhere, needs to be in your name etc. with reputable company, i.e. not a bank. SHTF, get silver and small gold coins, 1/10th or 1/4th Ounce close to home.
If gold goes ballistic you won't be lining up outside the dealers because you wont be able to buy it. If you already have it you won't want to sell it.
